I would say it’s the opposite. Vacation time has more incremental value the longer it goes on. Even a 2 week vacation I’d have trouble fully unwinding from. An entire summer, you can truly have some quality time to yourself to recharge, focus on a hobby, travel a lot, etc. I would say those summers off are easily worth $100k.
Taking things to an obviously absurd extreme, being unemployed is clearly not worth $400k/year: people work for far, far less.
As you say, longer blocks of vacation time definitely open up new possibilities, but perhaps there’s an inflection point: an 11-week trip seems like it’d be very nearly the same as a 10 week one.
Things get weird when much of the total comp is in benefits. For example, if your cash salary is $50k, that limits what you can do with your $100k “worth” of vacation.
